When it comes time to plan for your family’s future, setting up a living trust can be an effective way to manage your assets while detailing the terms of how these assets will provide for your family after you pass away. In fact, living trusts can open up a large number of options for people involved in estate planning, allowing them to customize these trusts to fit their needs, assets and plans for the future.
In this three-part blog series, we will discuss some important facts to know when it comes to setting up a living trust. Although the discussion herein is general, you can easily obtain more specific information and professional advice regarding your situation by contacting the Denver trusts and estate planning attorneys at Phillips & Blow PC today.
One of the most important advantages associated with setting up a living trust is that these types of trusts are one of two primary ways of helping your beneficiaries avoid probate in the future. The facts are that:
If you have a significant amount of assets and/or want to make sure that these assets are properly managed in the future, setting up a living trust can help you enormously. This is because living trusts will:
What this ends up meaning is that you will not have to deal with the headaches of managing certain assets despite the fact that you and your beneficiaries can still be provided for from them. In the event that you become disabled or end up passing away, the trust will likely continue providing for your loved ones in the future (depending, of course, on the terms of the living trust).
Are you ready to get started setting up a living trust? If so, you can turn to the estate planning lawyers at Phillips & Blow, PC. We provide a thoughtful, comprehensive approach to our clients’ estate planning needs. We take pride in helping each of our clients and their families find the best solutions for them.
We can discuss your estate planning needs and different options during our consultation. To schedule this meeting, call us at (303) 713-9147 or email us using the contact form at the top of this page.
From our offices in Denver, we serve clients throughout the southwest and southeast Metro Area, including (but not limited to) people in Highlands Ranch, Littleton, Castle Rock, Parker, Aurora, Greenwood Village, Englewood, Centennial, Wheat Ridge, Golden and Arvada.